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MANILA, Philippines – De la Salle University won the bidding for a 1,395 square meter property in Bonifacio Global City, according to the state-owned Bases Conversion and Development Authority (BCDA), which auctioned the prime real estate.
De la Salle previously told BCDA they planned to relocate or expand their graduate school there, according to BCBA vice president Nena Radoc when reached by Rappler.
In a statement on Saturday, September 21, the BCDA said the property is the “last remaining vacant lot at the Institutional Area of Bonifacio Global City.”
It is located near other schools, including International School of Manila, British School, the future satellite campus of the University of the Philippines Professional Schools, the existing branch of STI — all located west of Market Market, a mall in the aggressively growing residential, business and educational district in Fort Bonifacio, a former military base.
De la Salle was the lone bidder during the July 23 auction, Radoc added.
De La Salle will pay an annual lease of P3.948 million payable in advance for the 1st 4 years and subject to an annual escalation of 5% starting on the second year, according to BCDA president and CEO Arnel Casanova.
“We welcome De La Salle University to the Bonifacio Global City and we are confident that the presence of De La Salle, one of the country’s prestigious universities, will play a major role in affirming the BGC as not just as a premier business, commercial and residential area but a premier institutional area as well,” Casanova said. – Rappler.com
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